The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Swaraj said there is scope to do a lot more and this would be an important element of their deliberations.
'We go through 18 years of school and college, but we lack many necessary skills.' 'The biggest lessons we need, to live life, are somehow not taught, and they are only learned on the job.' 'My intention, through my content, my books, and my start-ups, is to make college kids become life ready.'
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Gaurav Garg, head of research at CapitalVia Global Research Limited will answer your stock market queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
For Pinarayi, a victory in Thrikkakara would have come as public endorsement of his development initiatives, including controversial K-Rail project, which has witnessed widespread protest
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
'She seems to have disappeared off the face of the planet after telling different people different things.'
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it has no intention to sell a part of its stake in Petronet LNG Ltd and Indraprastha Gas Ltd (IGL) to help its new owner avoid making an open offer for the two gas companies. BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
Biden's proposal also sets aside USD 20 billion for a national vaccination programme and USD 50 billion to scale up coronavirus testing.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
A vast majority of employees do just the bare minimum that ensures they escape censure or reprimand, such that they are seen to be doing their bit, without coming in the cross-hairs of the HR team for under-performance, observes Sandeep Goyal, managing director, Rediffusion.
AAdhar cannot be successful unless there is proper coordination at the helm.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
Billionaire Anil Agarwal's mining group Vedanta on Monday said it has withdrawn cases in the Delhi high court as well as before an international arbitration tribunal to settle a Rs 20,495 crore retrospective tax dispute with the government. Post slapping of a Rs 10,247 crore tax demand on UK's Cairn Energy Plc for alleged capital gains made on a 2016 internal reorganisation prior to the listing of its India business, the Income Tax Department had sought Rs 20,495 crore in taxes (including penalty) from Cairn India for failing to deduct tax on capital gains made by its British parent. Cairn India was in 2011 bought by Agarwal's group and subsequently, the firm was merged with Vedanta Ltd.
Officers sitting over untapped potential to make COVID-19 vaccines need to be charged with 'manslaughter' as it is leading to so many deaths, the Delhi high court said on Wednesday, observing that a lot of scope and infrastructure is available in India which is not being used.
The value of the index, adjusted from its all-time high for the relative loss in the rupee's value, is close to sub-10,000 levels.
The value of the ace investor's personal holdings rose by just 2%.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
With most Adani Group shares locked in lower-circuit in early morning trade based on news that accounts of three foreign portfolio investors, heavily invested into group companies, were frozen by the National Security Depository Limited, market experts advise caution that investors should not jump in now to buy at lower levels.
Farmer leader Kanwalpreet Singh Pannu said that thousands of farmers will start their 'Delhi Chalo' march from Rajasthan's Shahjahanpur through the Jaipur-Delhi Highway at 11 am on Sunday.
Acknowledging a job well done can go a long way especially for professionals who are the driving force behind an enterprise's business operations, notes Vijay Gupta, director-global human resources at Rahi, a tech solutions provider.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
US Secretary of State Antony Blinken said that the United States is calling on all nations not to have major weapons transactions with Russia. He made these marks after the conclusion of the 2+2 Ministerial Dialogue between the defence and foreign ministers of India and the United States.
Malvinder "forged the signatures" of Aditi Singh, Shivinder's wife, in the documents of RHC Holdings Pvt Ltd, which along with Oscar Investments Ltd jointly owned financial services firm Religare Enterprises Ltd and hospital chain Fortis Healthcare Ltd, it said.
'That would be very bad for them and suicidal for both the Gandhis and the Congress party.'
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
'An entrepreneur should always remain under pressure or he will die,' Vineet Rai tells Anjuli Bhargava.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
